Business setups in Kenya continue to experience tough economic times as auctioneers put more private properties on auction for different financial reasons.
Pangoni Resort, a popular luxury resort situated approximately 18 kilometers from the Indian Ocean, was on Monday put on auction in Mombasa.
The resort appeared in the auction pages of a local newspaper alongside Spa Shanzu Beach, all of which are owned by the same company.
The property that sits on 4.112 acres houses 50 luxury apartments, restaurants, shops, and stores among other luxury architectural amenities.
Kilifi Bay Beach Resort
File
‘’It lies 2.6 km East of Mombasa-Malindi Road turning off at Shanzu Primary School in Mombasa County. The plot extends to 1.664 Hectares (4.112 Acres),’’ the auctioneer shared in a notice.
‘’The property is developed with fifty (50) luxury one, two & three-bedroom apartments, with lounges opening to the balcony, ancillary facilities which include kitchens, restaurants, conference halls, shops, stores, gym and sauna, and a centrally set infinite pool.’’
Interested buyers will only be allowed to buy the two facilities at once and not on separate bids.
Buyers have also been advised to deposit a Ksh5 million bid before the bidding process starts to show their commitment to buying the luxury resorts.
”All the aforementioned apartments will be sold together as one lot. Those bidders will be required to produce a bidding deposit of Ksh5 Million by way of cash or banker’s cheque before being allowed to bid,’’ the auctioneer added.
The property title is on a leasehold for a term of 99 years and is set to run until 2066 with an annual rate payable at 8% amounting to Ksh99,050.
‘’The title is a leasehold interest for a term of 99 years w.e.f 01.01.1967 at a revisable annual ground rent of Ksh 1,770. The current assessment for the unimproved site value of the mother plot is Ksh 707,500.’’
Directional signage for an auction.
Photo
courtesy
